Homeowners within the Round Rock ISD will pay more under a new tax rate, which takes effect immediately. The RRISD board of trustees voted unanimously Sept. 17 to set the property tax rate at $1.3325 per $100 of property valuation. The rate is actually a $0.005 decrease from last year’s tax rate of $1.3375 per $100 of property valuation. However, because property values have increased since last year’s tax rate was adopted, property owners will pay more in taxes with the lower rate. The Freeport Tax exemption, which the board adopted June 18, took about $6 million from the tax roll. Trustees previously said they expect the exemption to draw more manufacturing businesses to Round Rock in the coming years and boost the local economy. The tax is used for maintenance and operations of the district’s public schools and to pay for outstanding bonds. Taxes account for more than 76 percent of RRISD’s annual general fund revenue, according to a June 18 budget presentation. The district expects to collect $285.5 million in taxes from fiscal year 2015-16. The board adopted a $374 million budget on June 18. The budget included a $12.7 million increase in revenue from last year’s budget because of the additional property tax revenue and $9 million more in funding from the state.